Shubh Nivesh and Shri Raksha Premium Comparison

Shubh Nivesh and Shri Raksha premium comparison can be done on the basis of minimum and maximum premium, if top up premium is allowed and also if premium waiver is available in case of critical illness or physical disability. Premium is the money paid by you so that the insurance company provides you a life cover. Premium waiver in case of critical illness or disability is a part of SBI Life Shubh Nivesh and Shriram New Shri Raksha Plan Provisions. Provisions are not a part of all insurance plans. But for some plans, such provisions can be bought at an additional cost in terms of riders.

Depending upon the type of plan chosen, premium can be fixed throughout the policy term or it can vary as age of the life insured increases. Premium may also vary according to the sum assured that you have chosen. Higher the sum assured, higher is the premium value. Fixed minimum premium for plan 1 is ₹ 6000. Variable minimum premium for plan 2: Depends on age, term and Sum Assured chosen. Maximum premium is also defined on the similar lines. Variable maximum premium for plan 1: No Limit.

Premium Payment Options

Premium payment options for SBI Life Shubh Nivesh and Shriram New Shri Raksha Plan also include premium paying modes. For a life insurance plan, premium payment options are regular pay, single pay and limited pay. These define the frequency of premium payment. In regular pay option, there are different modes like monthly payment, quarterly payment, etc.

For SBI Life Shubh Nivesh:

Premium payment options: Regular Pay and Single Pay.

For Shriram New Shri Raksha Plan:

Premium payment options: Limited Pay and Regular Pay.

In regular pay, you have to pay the premium at fixed regular intervals throughout the policy term. This premium can be paid monthly, quarterly, twice in a year or once in a year. If you choose limited pay mode, you'll have to pay the premium only for few years whereas in single pay mode, entire premium is paid at once.

Top Up for Shubh Nivesh and Shri Raksha Premium

Top up for Shubh Nivesh and Shri Raksha premiums, is an extra amount of money that you can pay at any time during the policy term. It helps to increase value of investment over a long period of time. Top up premium is not allowed for first plan and for the second plan, it is not allowed. If allowed, top up premium can be paid anytime along with your regular premiums.